Quick breakdown on a possible $SOL trade, with some method behind the madness, true PA style only
Price action and price action concepts work in any market for any #Crypto or #cryptocurrency, or anything from forex to stocks.
Lets start on the 1H chart to get an idea:
We can see that we can define a range from MS that has formed after the impulse move upwards
From the initial impulse move outside of the range, we can leave this as a buyside liquidity target.
We see price sweep range high, and then range lows in its search for liquidity
Price hits the initial liquidity target and then, naturally, seeks the next liquidity target of the previous range lows where participants would have stored their stop losses
Then we see the PA unfold with a 0.786 fib level test, a subsequent 0.702 level test, and then a run down to range low.
We don't assume that price is going to continue out of the range until it occurs, so you can take profits and move SL at range low, or take full profit here
So where to from here for a possible set up?
Breakdown in image of structure etc
And here is the zoomed out version.
Maintaining the range after a potential range low recovery
Is this going to eventuate? We don't know yet, but either way you've hopefully gained some knowledge from this thread
Thanks to @Delta_Exchange for helping me bring this your way
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Are you struggling with understanding directional bias and how to plan your trades out?
"Eff me dead and bury me pregnant" you say, "how does he know that?"
Well, read on for a handy dandy pick me up if you've had a directionally biased arse whooping recently
Here's you:
- You've scanned a chart for donkey's years
- A you beaut entry is determined by thou
- Your arse is clenching as you squeeze the buy or sell trigger
- You think to yourself: This will be the move that establishes you as a trader...!
....and you get stopped out.
But why? Is this a contunuing trend that you find your self in?
How about you read the 7th word in this particular tweet.
"Trend".
You know the cliche saying - "The trend is your friend"
Hi guys, are you keen to take a quick look at $FTM chart, where we show how price is fractal in nature? Remember the BTC 5M scalps I've been sharing? (Check the similarities)
If so, read on:
The same is true for $BTC, $ETH, $FTT, $LUNA, $SOL, $SHIB, you name it
Looking on the 4H chart, let's observe a key item:
There is a Market Structure Break that causes a shift in market structure
We can also set an objective for price to head to based on the liquidity of an untested low
And what about understanding the next price move up?
See the detail on the chart:
- Retest of the bearish orderblock
- Sell off encountered
- Boom
- We've now got a range to play with
The past months have been amazing & we've been blown away by how many people have DM'd us for direct mentoring services
Proud to say that @C_ompounding and I are announcing that we are bringing you a Discord Mentoring Group to help you become a consistently profitable trader
We want to be upfront and honest in saying that there is a tiered charge for the mentor group.
We know that may not sit well with some, but to frame it, we are available 6-7 days a week in the server, and this is a task that we are putting our hearts and souls into for you all
This is not only to build you up as a trader, but also those around you as a supportive and strong community.
We want to be clear in saying that this is not a pump and dump group, but rather, we will be providing a full educational course with guidance and mentoring.
Setting up our range fibs, we can utilise some market structure that is now established
You can see that price is drawn to where the liquidity lies.
Here you can see that price consumes the sell side liquidity just below the range low, and then is drawn up to the buy side liquidity at the range high.
Then we add fibs to suit the move on the 1H TF (15M TF shown here though)
As we see how price is playing out, we pull our target fibs on the recent swing low to swing high, and see that the 0.705 level of the target fibs lines up nicely with the 0.236 1H HTF fibs